Sunday June 25, 2023 VOLUME 7 ISSUE 24
AMZN | ARKK | BTC | ES | ETHUSD | GC | HUM | KDP | META | MSFT | US
ALL NEW! Announcing a NinjaTrader version of my Flagship indicators, SunnyBands AND NOW DMA_HISTOGRAM! Order Here. OR, request a Free 7-day Trial with FREE Personal Orientation & Instruction!
I'll be going to the MoneyShow in Las Vegas August 8-10 if anyone wants to join me for lunch there let me know.
Want to see a Quick Slide Set pdf of the SunnyBands Rules I use? Click Here and become a Free Member of MoneyMentor, or if you're already a Member, just Login.
NEW Podcasts Dropped: Carolyn Boroden, Markus Heitkoetter, Dan Passarelli, Ted Hearne, Larry Pesavento and Norm Winski. Great interviews with Sunny & Sam. Give 'em a listen! Coming Next: Steve Primo.
More Sunny Harris interviews: Podcasts with The Matt Kohrs Show, Moon Dev, AlphaCast, Macro Jabber, Alternative Investments, Casey Stubbs of How to Trade It, Chat with Traders, Michael Filighera's Eye of the Storm, The Daily Traders and Etienne Crete's Desire to Trade. Interview in Business Insider.
HAPPY HALF HOUR! On Wednesday July 5th (because of the holiday) at 1:15pm PT. I will be hosting the Next Free Networking Event for all Traders new and old to join in the discussion and "get to know each other" event. Sign Up Here. This Free meeting of like minds will be held once a month, on the 4th of each month. We all had a great time and shared liberally on the 4th of June. Don't miss it next time. Click HERE to join us. You must be registered to get the invitation and link.
>>FREE Live Demo REPLAY Posted. Learn how I use SunnyBands to trade.
>>FREE Replay of Live Trading Room (Trade Along with Sunny)
>>FREE Trial of Sunny's Most Powerful Indicators. Click Here. I can only take 20 trials per month.
If you are new to Sunny Side of the Street you might be unfamiliar with the rules I use to interpret my Indicators.
If that's the case, you can download the Indicator Manual Here. Or you can see the 9 slides for a quick presentation of SunnyBands rules.
If you haven't already, Watch the Oct 18 Live Demo Replay Here. The LIVE DEMO was Tuesday Oct 18 at 10amPT. Learn how Sunny interprets her indicators. No sales pitches, only Education and Support. Whether you do have or do not yet have SunnyBands, PHW, or DynamicMAV, you will not want to miss this expose'.
And there is one of the Live Trading Room sessions available Here if you'd like to see how I trade.
Want to try them out? Click Here for a FREE Trial of Sunny's Indicators. I will personally walk you through Installation (Zoom) and explain to you EXACTLY how I use them in my day-to-day trading. I've been trading for 42 years and this is what I use Every Day. I don't hold anything back. The week of your Trial I will have 2 more Zoom calls with you during the Trial to walk you through trading them in the Live Markets.
"You can use SunnyBands for Options on QQQ. When it goes purple I go! It's a sure bet. Price crosses above LOB sometimes, wait for a couple bars within LOB. Catch it on Friday on options expiration sell puts and it's a sure thing! I did it on TSLA too." - Aaron R.
If you Didn't Attend the "EasyLanguage Forum", but would like Access to the Videos and Slides, here's where to get them. Sam Tennis and I covered EasyLanguage from Beginners to Intermediate. And even some OOEL. It was intense and lots of fun. If you couldn't come and want the materials you may purchase them for a modest cost here: Order Form. You won't learn EasyLanguage anywhere else faster.
EasyLanguage Forum
If you Registered for the EasyLanguage Forum and would like to view the Slides and Video, use your email and password to Login. If you forgot your password, just shoot me an email.
If you didn't Register and didn't attend the classes, you may want to access the Slides and Videos. For a modest fee, they are HERE. This is the best place to learn TradeStation's EasyLanguage.
Samuel K. Tennis is world-renowned as "Mr. EasyLanguage" as he was the lead programmer, designer and programmer of EasyLanguage when he was working for Omega Research, which changed its name to TradeStation in 2001.
Sam Tennis is considering offering EasyLanguage Mentoring Sessions. If you are interested, please fill out this little form.
Sunny J. Harris has been a professional trader since 1981 (through all the Bear and Bull markets) and author of "TradeStation Made Easy!" and "Trading 101", "Trading 102", "Electronic Day Trading 101", "Getting Started in Trading". She began using TradeStation & EasyLanguage (at the time "System Writer") in 1987 and has been a TradeStation Beta Tester ever since.
Sunny and Sam have been friends for more than 30 years and are partners in writing our upcoming "The Definitive Guide to TradeStation's EasyLanguage & OOEL Programming" It looks like, at this point, it will be about another month before it goes to press. If you want an autographed copy, click here. (Only in US mainland)
Podcast: The Sunny Harris Show! with Sam Tennis
And in another vein, if you'd like to visit the Podcast interviews of Sunny they are available Here.
The most recent Episode is with Markus Heitkoetter. Dan Passarelli, Ted Hearne. Larry Pesavento and Norm Winski before that and the world famous Linda Bradford Raschke, Robert Colby, and a historical visit with Larry Williams who is the master of commodity and futures trading as well as the prolific author of 11 books. Get to know him personally! The podcast is not to miss. Before that were legends Wally Olopade, Price Headley, Jody Samuels, Harry Boxer and Peter Eliades and then Michael Filighera illustrious Elliottician. Past episodes include: Glenn Neely (Elliott Wave Expert: neowave.com), Perry Kaufman (prolific author and master trader: kaufmansignals.com), and technical Rock Star Tim Slater. Upcoming episodes include Norman Hallett, Robert Colby , Larry Pesavento, Linda Bradford Raschke, Ted Hearne and Carolyn Boroden. I listen to Podcasts while I trade! You don't have to just sit there and listen and do nothing else.
Don't miss these Podcasts! These have been delightful and enlightening interviews into the lives of legendary traders and their take on the markets.
Link to Sam Tennis' Products below. Link to Sunny's Products. NEW: Scan for bullish stocks.
Please take a look at my YouTube channel, (search for Sunny Harris on YouTube) subscribe, and give me ideas of what else you would like me to include. I'm ready to record more videos.
QUICKLINKS: VantagePoint | Last Week I said | Dow | ES | SunnyBands Implications | Trading Room | Automated Strategy | Multiple Timeframes | Stocks | Oil | BitCoin & Etherium | Gold | Bonds | Diatribe | DEFINITIONS| Quips & Quotes
VantagePoint ai Prediction for Tomorrow
Click Here to attend a Free informative class.
The VantagePoint prediction for tomorrow is for down from Friday's close. The predicted high is 33,847 and the low is 33,573. That's a range of only 274 points on the day.
The moving averages are moving strongly down. Only the long-term is still above the zero-line, but just barely. This configuration speaks to further downward movement.
Glenn Neely's Gold Prediction
Take a look at how accurate Glenn's chart patterns have been with his NEoWave River Theory and NEoWave technology. See where he thinks it will go next. The chart in today's GC is a 6-month view so you can see longer term predictions. Click on the link to visit his website.
Notice that he is calling for long-term much lower GC moves.
Here is the Weekly NEoWave projection of Gold. He posts it on Monday afternoons, so it will be updated then. Come back and re-load to see it.
http://www.neowave.com
Last Time I Said:
"We are currently below the 50-day MAV and above the 200- and the 21-day MAVs on the Weekly chart. That puts us in a Death Cross formation. If we pass thru that one we have more room on the upside. Probably up to the UIB which lies at 34,960." And pass it we did. Now we are back below the 200-day MAV but still above the other two. Yet, in after-hours trading we are down -192 points on the Dow Futures YM.
The Podcasts of Carolyn Boroden, Markus Heitkoetter, Dan Passarelli, Ted Hearne, Larry Pesavento, Norm Winski, Greg Morris, Linda Bradford Raschke, Anka Metcalf and Robert Colby are now posted. Enjoy these great interviews. Steve Primo coming Next!
S&P 500
The ES was down -64.75 points on the week with 4 of 5 days down. Now we are right at the Flat DMA, just like on the DOW. Could it be in reaction to the Fed saying they were still going to raise rates in the future?
The NQ is heading up faster and higher than the ES. In fact, there is a strong Attractor overhead at 15,882 and two below at 14,193 and 13,488. Which will win? If the past is any predictor then we will go up and down. That's the way of the markets. The 23.6% Fib retracement is at 14,352 and I think that is a likely target. Nevertheless, NQ is up 38% from its low while the ES is up 21% from its low. Pundits are saying because of that we are in a new Bull Market. I'll believe it when I see it. We are a long way from creating new all-time highs. Almost 500 points to go.
The overhead Attractor on the ES lies at 4,612 which is proportionally higher than the Attractor on the Dow. Price is once again "right below" that level, with price at 4,469. It will need to best that price to show more upward movement.
Price on the Daily Chart is languishing at the Flat DMA and will need to show us out of the impending congestion before we know the next direction.
Earnings Reports continue this week with some important stocks reporting.
REPORTS THIS WEEK:
Quips & Quotes
Here are a few quotes from my users these past few weeks:
"My consulting sessions with Sunny started from a cringeworthy point. I was a rank novice. I was impressed with her patience and calm responses as we began working on terminology, process and setting up my trading platform. She was great at directing me to areas I needed to supplement my learning, as well as guiding me away from subjects distracting to a beginner. With her decades of expertise, she was able to break down complexities into bite-sized chunks so that sessions were productive. I found over a short period of time I was asking smarter questions, and eager to learn more. Sunny is a talented mathematician and programmer who develops her own tools, but her style of coaching is cheerful and encouraging, not intimidating. You become a student of the craft of trading -- setting up your own strategies, and testing them until you know they're likely to work. The SunnyBands system she created and sells is also what she trades with herself. If you are a beginner, she can start at an appropriate point for you and raise you up to the level you're ready for her SunnyBands system. I'm still a work-in-progress, but with Sunny I chose a solid business partner, and as it turned out, I also made a good friend. Thoroughly recommend Sunny!" -Jill T.
"I made $5,772 on the first day of my free trial of SunnyBands. It told me exactly where the turns were, even with the high volatility today. You are one of the very few people that allows test drives. It's nothing short of amazing!" -Aaron R.
"I want you to know that you’re truly an amazing person and how grateful we are to have you as a mentor/teacher. We Love You." - TJ N.
"Nice Bands! This morning I did a couple of quick MES buys and sells. Then I bought into an upward moving ES [signaled by the DMA_H]. Followed it to the top [SunnyBand]. Closed. Sold short at the top [SunnyBand.] Followed it to the bottom [SunnyBand]. A $4,000 account (what I had moved to the Futures account) returned about $2,000. Doesn’t get any better than that!". - Don M.
DMA_Histogram in Various TimeFrames
Here we have several different time frames on the ES Continuous Contract. This is a view of the RadarScreen with the DMA_Histogram showing the Direction of the DMA and what color it is.
When the DMA_Histogram turns Gold it means that the Gold DMA is on top. When it turns Purple it means that the Purple DMA is on top.
While Purple is on top and the DMA_H is below the zero-line it turns Green to highlight change of trend and the possibility of a Bullish movement.
While Gold is on top and the DMA_H is above the zero-line it turns Red to highlight change of trend and the possibility of a Bearish movement.
Note, I always wait for Price Action to confirm the move before taking a position.
This configuration tells me that for the most part we are Bullish and tackling the formation of a new Bull run. The Daily and 1-min settings show downward movement.
RadarScreen of Stocks
Here again, back by popular demand, is my RadarScreen of S&P 500 Stocks:
The RadarScreen shown here is sorted by PHW (Potential Hourly Wage) total and presents the "most tradable" stocks on the top. i.e., those with the most swings and trading opportunities. Note that NVR and BKNG are on the top still. Searching through this list could prove valuable for those hunting for the right symbols to trade.
In the DMA column you can see that most of the symbols are very mixed. Lots of all colors. This is indicative of a sideways market that still has to reveal its direction.
Stock Scan for those Above all 3 MAVs & >million shares traded
This Scan includes a condition that symbols must have >= 1,000,000 volume as well as being above all 3 MAVs, as well as Price being between 20 and 200. That narrows the search down quite a bit. And now there are 104 stocks that meet the conditions. Lots of opportunity here. You could now check out these symbols against the RadarScreen figure above to see which of these has the highest PHW for trading.
Stocks
Created : 06/24/2023 08:24pm Symbol "META", Bar Type = Daily Last Close = +288.73 : the close Friday was at +288.73. Change from last Sunday (+/-) (+281.00) = +7.73 Purple or Gold on top? Gold UOB = +293.56 UIB = +287.06 MidLine = +276.88 MidAngle = 61.01 LIB = +266.71 LOB = +260.21 Above/Below 21-day MAV = 270.96 - Above Above/Below 50-day MAV = 247.64 - Above Above/Below 200-day MAV = 172.51 - Above Color of DMA_H = Red All Time High = +384.33 Percent = -24.87% on 04/08/2022 302 bars ago.
META gave a SunnyBands BUY signal on 11/08/22 at 112.05 and only this past week was up to 288.73 for a potential profit of over 176 points per share. META was up +7.73 on the week.
We were on a SunnyBands SELL signal for 7 trading days, but it went nowhere. The Sell Signal was negated by continued up action and we are now back in Buy mode. Price is at 288.73 and continues to move upward. It has yet to best the all time high, but it looks like it will do it in time.
Price (up +7.73 this week) is still above all 3 MAVs which is still Bullish as it continues on upward. Last time I said: "Price may stumble this next week as it attempts to best this Attractor, but I think it's moving on upward." And that's what it did. While the DOW and ES went down on the week META went sideways (stumbling) and then on Friday went on up.
The Weekly chart is more revealing, with the weekly price having broken above the 200-period MAV. The next Attractor overhead is at 302.48.
Price is currently above the 61.8% Fib line at 271.66 and rising. Last time I said: "It looks to me like we are going on up to the 76.4% Fib line" which is now at 314.90. And I still think so.
KDP: Keuring Dr. Pepper
Last time I said: "KDP, on the Monthly chart, has given a clear Sell signal in a faltering market. We are sitting right on the Flat DMA, which is always scary. It could easily turn on downward for more of a correction" and not only did it correct but it is now down below the DMA and right at the LIB.
KDP on the Weekly has rolled over and is heading for the Attractor at 22.65. It will take it a bit to get there, but that's probably where it is going.
KDP was down sharply on Friday, dropping to the LIB and appears to be heading for the low of 30.72 this next week. Nevertheless, Gold is on top in a Flat DMA with the DMA_H rising slightly above the zero-line.
On the Daily chart it just looks like straight down with price below all 3 MAVs.
This week KDP is down to 31.19 having ticked up ever so slightly and fallen back down.
Price on KDP just looks like it will continue on down to 20.00 (which is the LOB on the Monthly Chart) or on down to the monthly Attractor at 26.63.
Now let's consider this coffee company: SBUX (Starbucks).
The stats for SBUX are:
SBUX, down to sideways (-3.53) on the week is right now at the lower Attractor (97.65). The Attractor and the 200-day MAV are coincident. Price is below the LIB and yet Green on the DMA_H is and is turning up, getting shorter. Purple is on top on the DMA and has been Flat for a couple of weeks. It turned down slightly with Friday's down move. I'd still call it Flat though. The Attractor below price is pretty strong, so only time will tell whether it bounces next or continues on downward.
On the Weekly chart it's almost the same story, with the DMA flat -- however on the weekly Gold is on top, but the DMA is Flat.
The daily DMA is still Purple on top but the DMA is Flat, suggesting that price will stumble for a few bars before deciding whether to move down off the DMA or break through it and go on upward.
Paying attention to these SunnyBands signals keeps me consistent. If you haven't already, maybe you'd like to get a FREE 7-day Trial for yourself. It's FREE and it comes with 2 Zoom sessions where I Personally give you Installation and Orientation.
HUM
HUM is up (barely) this week by +0.30, but it had an enourmous gap down on Wednesday 06/14/23. It's likely more corporate news, like last time.
Price is well below all 3 MAVs now, which is Bearish.
However, last time this happened on 01/08/22 it recovered to new highs right afterwards. I'm going to check the news to see if any announcement was made and then buy at what is probably a local bottom.
A SunnyBands Buy signal came on 06/21/23 and was confirmed. Yet price went up the next day followed by a down day. If it drops below the body of the signal candle I'll exit taking a small loss.
Price is below the LIB and could be heading for the LOB at 437. Price on the Weekly had been going sideways since the beginning of 2023. BUT, the huge 67 point drop last week was like the January drop of 110 points which was followed by a move to new highs. That's why I'm a buyer here.
Last time I said: "I am expecting price to drop on down to the LOB (Which it Did) which will put it below the 200-day MAV." And that's exactly what happened.
There is a Strong Attractor below at 411.94. Price could easily move 20 more points down to that level.
A SunnyBands Sell signal was given and confirmed on 05/31/23 at 504. Price is now at 445.96 for a potential 58 points profit so far.
The stats for HUM are:
Created : 06/24/2023 08:10pm Symbol "HUM", Bar Type = Daily Last Close = +445.95 : the close Friday was at +445.95. Change from last Sunday (+/-) (+445.65) = +0.30 Purple or Gold on top? Purple UOB = +516.21 UIB = +501.19 MidLine = +476.43 MidAngle = -71.49 LIB = +451.67 LOB = +436.65 Above/Below 21-day MAV = 490.06 - Below Above/Below 50-day MAV = 506.88 - Below Above/Below 200-day MAV = 507.58 - Below Color of DMA_H = Green All Time High = +571.30 Percent = -21.94% on 11/03/2022 158 bars ago.
AMZN
The stats for AMZN are:
Created : 06/24/2023 08:03pm Symbol "AMZN", Bar Type = Daily Last Close = +129.33 : the close Friday was at +129.33. Change from last Sunday (+/-) (+125.49) = +3.84 Purple or Gold on top? Gold UOB = +129.95 UIB = +127.37 MidLine = +123.28 MidAngle = 34.22 LIB = +119.18 LOB = +116.60 Above/Below 21-day MAV = 124.01 - Above Above/Below 50-day MAV = 114.54 - Above Above/Below 200-day MAV = 104.28 - Above Color of DMA_H = Gold All Time High = +188.65 Percent = -31.44% on 04/08/2022 302 bars ago.
Price was up another +3.84 on the week, with price well above the UOB. It has been "up, up and away".
Last time I said "I'm guessing it will bounce back and test the UOB again this week." Which it has done.
During the week price stumbled by going sideways for the week...until Friday when it went up to the UOB.
There is a serious Attractor overhead at 135.62 which is calling to price and could easily be our next (several days/weeks) target.
On the Weekly chart AMZN is above the DMA and Gold is now top. The DMA was seriously Flat, but it made it above the Flat DMA and has been up for the past 10 weeks.
Price is currently 129.00 and I'm seeing projections to 135.62. Nothing wrong with 6 points.
TSLA
The stats for TSLA are:
Created : 06/24/2023 08:26pm Symbol "TSLA", Bar Type = Daily Last Close = +256.60 : the close Friday was at +256.60. Change from last Sunday (+/-) (+260.54) = -3.94 Purple or Gold on top? Gold UOB = +278.43 UIB = +268.76 MidLine = +253.12 MidAngle = 42.54 LIB = +237.49 LOB = +227.82 Above/Below 21-day MAV = 231.75 - Above Above/Below 50-day MAV = 196.42 - Above Above/Below 200-day MAV = 195.58 - Above Color of DMA_H = Red All Time High = +414.50 Percent = -38.09% on 04/08/2022 302 bars ago.
Cathie Wood's 5-year projection for TSLA (chart below) is still at 4,600 which would translate to 1,500 post split; she lowered her projection a few months ago. Several other pundits I keep track of are suggesting a much higher price also.
TSLA was a bit down on the week by -3.94 points and is sitting on a Flat DMA. TSLA has been doing nicely since the SunnyBands Buy signal on 04/28/23 at 161.82 for a potential current profit of 91 points. Not bad!
Time before last I said: "Now I think it will break the 200-day MAV at 200 and move on up to the overhead Attractor at 216." It did that and MORE. Now it's at 253.18!
This is still my favorite stock. But, at this point I'm a trader, not an investor yet until it gets out above the Attractor at 294.
On the Weekly chart price is above the UIB and will surely move to the Attractor overhead near 300.
Seems to me people should be flocking to TSLA with gas prices high still. It is now back down to $4.60/gal in my neighborhood. When I drove up to Santa Monica 2 weeks ago for a conference (a 1.75hr drive that took 4 hours) I counted 73 Teslas on the road.
I still believe we will continue to turn to carbon-neutral technologies and electric vehicles. I have not yet purchased their vehicle because I'm waiting for better batteries. I would want to get to LA and back on one charge before it is viable technology in my mind. When the batteries are better I expect this stock to really take off. I just found out that Mercedes is projecting a 2024 electric Maybach. That's my next car.
Notice that I think TSLA is still a good long-term buy for lots of fundamental reasons (not the least of which is lower prices and a huge run-up potential).
ARKK
The stats for ARKK are:
Created : 06/24/2023 08:04pm Symbol "ARKK", Bar Type = Daily Last Close = +42.14 : the close Friday was at +42.14. Change from last Sunday (+/-) (+44.31) = -2.17 Purple or Gold on top? Gold UOB = +45.04 UIB = +44.05 MidLine = +42.32 MidAngle = 0.14 LIB = +40.59 LOB = +39.60 Above/Below 21-day MAV = 42.11 - Above Above/Below 50-day MAV = 39.53 - Above Above/Below 200-day MAV = 38.07 - Above Color of DMA_H = Red All Time High = +132.50 Percent = -68.20% on 04/08/2022 302 bars ago.
ARKK follows TSLA, her main holding. TSLA was down this week and so is ARKK, by -2.17 points.
ARKK is now (on the Daily) at the LOB and will continue to move according to TSLA's moves. On the Weekly chart price is still sharply sideways and is right above the Flat DMA. The SunnyBands are very narrow, not allowing for much of a move.
I have twice offered Cathie Wood FREE use of SunnyBands for stock selection and timing. No answer. I really want to see this powerful woman succeed. IF any of you have a connection, please let me know. Comments.
On the Daily, a SunnyBands Sell signal occurred on 02/16/23 at 41.74 and was closed at the Flat DMA at 39.82 for a potential profit of nearly 2 points per share. This ETF is neither an investment nor a tradable at this point. The moves are too narrow and unpredictable.
Who's On Top at the bottom of the chart is now Gold and is barely above the Zero-Line. That could mean choppiness or a move to either direction. There's no way to tell just yet. There is no signal yet.
This week she added 830657 shares of HOOD and 46030 shares of VERV to her collection.
When you think about your own trading successes (or lack thereof), take a look at what one of the most notable traders (Cathie Wood) has done. Don't feel bad. It happens to the best of us. And so can recovery.
I do think, still, that she over-trades. And bottom fishing is a risky business!
Tonight's chart is on a Daily timeframe. Along with other non-META/MSFT stocks this ETF was down on the week with a strong down day on Wednesday. She is still not besting her local high on 02/02/23 at 45.55 however.
MSFT
Created : 06/24/2023 08:24pm Symbol "MSFT", Bar Type = Daily Last Close = +335.02 : the close Friday was at +335.02. Change from last Sunday (+/-) (+342.33) = -7.31 Purple or Gold on top? Gold UOB = +345.90 UIB = +339.91 MidLine = +330.60 MidAngle = 15.24 LIB = +321.28 LOB = +315.29 Above/Below 21-day MAV = 332.64 - Above Above/Below 50-day MAV = 315.01 - Above Above/Below 200-day MAV = 265.61 - Above Color of DMA_H = Red All Time High = +351.47 Percent = -4.68% on 06/16/2023 4 bars ago.
MSFT (closing at +343.18 Friday, up +15.54 on the week) is Above all 3 MAVs now and continuing to recover quite nicely. Price moved decisively above the Flat DMA and keeps on going. In fact, we are now above the UOB firmly AND are nearing all-time highs.
Price is now above the UOB and the DMA Histogram (DMA_H) is showing solid Gold, showing me that there is still more room on the upside.
On the Weekly chart we are right below the 123.6% extension at 340.38 from the low of 11/04/22. This could cause a bit of stumbling this next week or so, but I'm still thinking that MSFT has more room on the upside.
On the Monthly chart one can see that we have now definitely passed the Attractor at 292.64, which is a strong sign, and are right at the UIB at 335.02. Now we are testing the all-time high of 338 and about to surpass it. The overhead Attractor is at 348.69. The high of last month touched that level but has yet to move above it.
Price is now at 334.85 (at the 123.64% Fib line on the Daily) and is heading for an overhead Attractor and the UOB at 357.98.
On the Weekly chart price is now above the UOB and at the same Fib line. This could cause some stumbling for the next few days, but I still think it will have more movement to the upside.
Don't you think you should purchase the SunnyBands and DMA_H for your own? Sure helps Profits! Are you serious about making money trading? You're leaving money on the table if you aren't trading with SunnyBands.
If you want a Free 7-day Trial, CLICK HERE and we'll set it up.
"This is INSANE! I'm up over $11,000 in four days. Even 1/10th of these results & I'm speechless!" [Using SunnyBands during a Free Trial]. - Brian K. EDITOR'S NOTE: Brian is now up over $100,000! Five months later.
Buy the DMA_H and SunnyBands for yourself. They are life savers. I totally rely on them for my own trading. And I want you to have the success you deserve! You can have these indicators for yourself. They are a great trading tool! And now I have a new indicator that plots a series of colored dots letting you see at a glance Who's On Top, Purple or Gold. Here's what it looks like. It is the series of Purple and Gold dots at the bottom of the chart.
Please join my Podcast (The Sunny Harris Show! with Sam Tennis). It's a lot of fun getting to know the Gurus from a personal standpoint and hear their predictions for the coming market. I listen to podcasts while I trade. The most recent Podcast is with Greg Morris of MurphyMorris.
Oil
The stats for CL are:
Crude Light (CL) continues to move downward.
Price is now at 69.94. A low not considered possible only months ago when price was at 118.93 and years ago at 200.0.
On the Monthly chart price is now just beneath the Flat DMA (which has been Flat for months). Gold is on top, but the histogram bars are Red and getting shorter, suggesting more downward movement is possible.
A move down to the 55-period MAV would not surprise me at this point, which would take it down to 58.90. I know that seems unreasonable, but that's what the chart says.
Back to the Daily chart, price is below all 3 MAVs. Often in this configuration price bounces around the DMA for a few bars before deciding a direction. This too suggests the possibility of more downside action. The SunnyBands Sell signal from 04/14/23 is still in effect and doing well.
Price has been weak and only been moving back and forth between the LOB and the DMA. Last week I said: "The bottom of the Pennant formation is at 74.12. I'm expecting price to fall below that level." And It Did! Now, it moved on a gap to right above the DMA and back down to it. Purple is still on top, but possibly not for long. There was a SunnyBands Buy signal that was confirmed by price action on Thursday at 70.00.
On the Weekly chart price has entered a SunnyBands Buy signal on 05/26/23 at 73.46. It was confirmed and now price is at 71.50.
Last week I said: "I think price will stabilize around 70.24." And it has. We are slightly above that now, but probably not for long. The new Pennant formation has a low of 67.22 and price is wavering around inside that Pennant. On 03/20/23 we had a low at 64.61 and price is still above that, but I think at this point it looks like we are moving on down to the Monthly LIB at about 60.
Putin will decide where price is going next. If, and it looks likely, Russia begins to support Kaliningrad to the West of Lithuania and North of Poland we will get into a war with Putin, with NATO defending Lithuania and Poland, members of the EU. If that happens, crude will be needed to support the war and prices will respond.
BitCoin, Etherium, Gold, Bonds
BitCoin
The stats for BTC are:
Created : 06/24/2023 12:52pm Symbol "@BTC", Bar Type = Daily Last Close = +31,120 : the close Friday was at +31,120. Change from last Sunday (+/-) (+26,445) = +4,675 Purple or Gold on top? Gold UOB = +31,396 UIB = +30,231 MidLine = +28,373 MidAngle = 89.83 LIB = +26,515 LOB = +25,350 Above/Below 21-day MAV = 27215.95 - Above Above/Below 50-day MAV = 27923.60 - Above Above/Below 200-day MAV = 23070.75 - Above Color of DMA_H = Gold All Time High = +70,285 Percent = -55.72% on 04/07/2022 304 bars ago.
BitCoin on the Monthly chart is moving up toward the 61.8% retracement at 32,398. Current price is at 30,670.
On the Daily chart, we got a Buy signal on 06/18/23 at 26,445 and with current price at 30,670 that's a potential profit of 4,225 points per contract.
There is a Strong Attractor right at the current level, at 31,382 from the recent high on 04/13/23. The DMA is sloping upward with Gold on top and price is above all 3 MAVs.
The Fib 23.6 retracement is at 35,252 and that's a likely target.
In our Podcast interview with Ted Hearne last time, he pointed out that the stock market is going down and Bitcoin is going sideways. He believes that shows strength in BitCoin. Markus Heitkoeter's podcast will be posted next week.
Ethereum
The stats for Ethereum are:
Created : 06/24/2023 08:08pm Symbol "ETHUSD", Bar Type = Daily Last Close = +1,906.20 : the close Friday was at +1,906.20. Change from last Sunday (+/-) (+1,725.64) = +180.56 Purple or Gold on top? Purple UOB = +1,978.40 UIB = +1,917.10 MidLine = +1,822.12 MidAngle = 79.07 LIB = +1,727.15 LOB = +1,665.85 Above/Below 21-day MAV = 1818.42 - Above Above/Below 50-day MAV = 1848.36 - Above Above/Below 200-day MAV = 1562.74 - Above Color of DMA_H = Green All Time High = +4,867.81 Percent = -60.84% on 03/30/2022 322 bars ago.
In the after-hours market ETHUSD is down 5.50 points to 1,900.71.
The Daily chart shows that ETHUSD is not moving as sharply down as BTC. While BTC is at a local high, ETHUSD is lagging. Purple is on top though it looks like it is going to turn to Gold in the next day or two.
There is a downsloping trendline that encompasses the high on 04/17/23, the next local high on 06/06/23 and the current high. Price broke above this trendline last week at the same time breaking the Flat DMA, so it is showing some strength.
Gold
The stats for Gold are:
Created : 06/25/2023 10:53am Symbol "@GC", Bar Type = Daily Last Close = +1,929.6 : the close Friday was at +1,929.6. Change from last Sunday (+/-) (+1,971.2) = -41.6 Purple or Gold on top? Purple UOB = +2,023.8 UIB = +2,003.9 MidLine = +1,970.5 MidAngle = -79.20 LIB = +1,937.1 LOB = +1,917.3 Above/Below 21-day MAV = 1965.04 - Below Above/Below 50-day MAV = 1998.72 - Below Above/Below 200-day MAV = 1898.48 - Above Color of DMA_H = Purple All Time High = +2,174.9 Percent = -11.28% on 04/08/2022 304 bars ago.
Gold. In the face of bank failures and buy outs Gold passed above the magical 2,000 level over eight weeks ago. The UOB is now at 2,015.0 and price has been retreating from that level and is now solidly below the DMA. In fact, price is at the LOB and heading for the 200-day MAV at 1,899.
We got a SunnyBands Sell signal on 05/05/23 at 2,024 which has potentially made 89 points on the short side. There was a possible Buy signal last week but it was not confirmed by price action.
On the Monthly chart we are just in a sideways channel with price above the Long Term Attractor at 1,887. I'm guessing that price will move down to test that Attractor (which is right at the DMA) and then bounce back upward.
As I said earlier, it has been reported that the Central Banks are now buying gold and that should elevate price in the coming weeks.
Bonds
The stats for @US are:
Created : 06/23/2023 05:59pm Symbol "@US", Bar Type = Daily Last Close = +127.90625 : the close Friday was at +127.90625. Change from last Sunday (+/-) (+127.34375) = +0.56250 Purple or Gold on top? Purple UOB = +131.46361 UIB = +130.19417 MidLine = +128.09500 MidAngle = -1.00 LIB = +125.99583 LOB = +124.72639 Above/Below 21-day MAV = 127.40 - Above Above/Below 50-day MAV = 129.17 - Below Above/Below 200-day MAV = 128.91 - Below Color of DMA_H = Green All Time High = +165.90625 Percent = -22.90% on 04/06/2022 305 bars ago.
Bonds are down (-0.15625) on the week.
On the Daily chart we spent the week moving no where, below the DMA and on down below the LIB to the LOB and back up to the DMA. Bonds are currently at 128^07 in the after-hours market.
O the Monthly chart the US is right at a very strong Attractor at 127^15. Price for the last 6 months has just moved sideways on the Attractor and is below the Purple DMA and going no where.
Price is currently stuck in two interlocking Pennant formations, giving it pause, neither moving up nor down.
Back to the Daily chart: Price is right at the Purple DMA. Chances are price will continue to bounce around the DMA and head lower.
On Wednesday Fed Chair Powell speaks before the market opens. Let's see what that does!
Is there any reason to doubt what the Fed has been telling us all along? Their policy is to lower inflation until it is lower than the interest rate. The market keeps hoping for lower rates and then tanks when it doesn't come. I believe they will stick to their policy until inflation subsides and we have lower employment. Yes, they forwent the rate increase this month, but I would not be surprised if the Fed raises rates again.
On the Monthly chart price is well below the DMA with Purple on top, and it is moving somewhat sideways, right at the Attractor. The congestion above current price leads me to believe that we are still in for lower prices.
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